Each person on a team brings a unique perspective to the process; i.e., how things work; what happens when changes are made, and how to sustain improvements during daily work. Contributions are made from each individual's skill set and the team's synthesis of ideas.
Division of labor is the economic term for the practice of assigning small parts of a complicated job to individual workers who specialize in doing just their small part.
The natural rate of unemployment is a concept of economic activity developed in particular by Milton Friedman and Edmund Phelps in the 1960s, both recipients of the Nobel prize in economics.In both cases, the development of the concept is cited as a main motivation behind the prize.he policy implication is that the natural rate of unemployment cannot permanently be reduced by demand management policies (including monetary policy), but that such policies can play a role in stabilizing variations in actual unemployment.